According to the latest batch of New York City market reports, builder confidence slipped in the first half of the year and the investment sales market saw fewer transactions in the second quarter. On the office leasing end, landlords continued to lower their asking rents and Downtown saw a major dip in leasing activity compared to 2015. Check out more in our roundup of the week’s real estate market reports.
July 2016 builder confidence: National Association of Home Builders
Builder confidence for single-family homes dipped slightly in July, down one point from June. Confidence is also expected to fall three points in the next six months. Read the full report here.
Brooklyn semi-annual investment sales: TerraCRG
Brooklyn’s investment sales market slowed in the first half of the year after reaching a record high in 2015. Dollar volume fell 30 percent year-over-year to $3.6 billion and transactional volume was down from 1,011 to 771 sales. Read the full report here.
Q2 2016 NYC office leasing: Savills Studley
Manhattan leasing activity totaled 8 million square feet in the second quarter, hitting one of its highest levels in the last two years. Overall asking rent is down to $73.44 from $75.34 in the first quarter. Read the full report here.
Q2 2016 Midtown Manhattan office leasing: CBRE
Downtown’s availability rate dropped year-over-year to 11.5 percent and asking rents reached a quarterly high of $57.47 per square foot. Read the full report here.
Q2 2016 Downtown Manhattan office leasing: CBRE
Leasing activity Downtown is down 32 percent compared to the same period last year and asking rent is up 4 percent to $80.87 per square foot. Read the full report.
Q2 2016 NYC multifamily sales:
New York City’s multifamily market saw fewer sales but higher prices for deals that traded in the second quarter of 2016. Read the full report here.